The Philippine Court of Tax Appeals on Wednesday acquitted Rappler Holdings Corp. and its founder of tax evasion in a ruling hailed as a win for press freedom. READ:
THE PHILIPPINE Court of Tax Appeals on Wednesday acquitted Rappler Holdings Corp. and its founder of tax evasion in a ruling hailed as a win for press freedom.
The tax court said the holder of the depositary receipts only retained an option to buy the underlying shares of Rappler subject to certain conditions. “There is no law restricting foreign ownership in the business of the operating entity.” “These charges were politically motivated, they were incredible to us, a brazen abuse of power and meant to stop journalists from doing their jobs,” she said. “These cases are where capital markets, rule of law and press freedom meet.”
In a statement posted on its website, Rappler said the decision saw past the harassment against media organizations in the Philippines and decided objectively.
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